Commerce Bank Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

Commerce Bank grew its position in ServiceNow, Inc. (NYSE:NOW) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,305 shares of the information technology services provider’s stock after buying an additional 10,616 shares during the period. Commerce Bank owned 0.06% of ServiceNow worth $83,581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NOW. Sandbox Financial Partners LLC lifted its stake in shares of ServiceNow by 8.6% in the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock valued at $590,000 after purchasing an additional 66 shares during the last quarter. Federated Hermes Inc. boosted its stake in ServiceNow by 19.8% during the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after buying an additional 49,631 shares during the period. Raymond James & Associates increased its position in shares of ServiceNow by 5.9% during the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock valued at $234,135,000 after acquiring an additional 18,442 shares during the last quarter. Smithfield Trust Co raised its stake in shares of ServiceNow by 36.4% in the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock valued at $691,000 after acquiring an additional 262 shares during the period. Finally, Dohj LLC acquired a new position in shares of ServiceNow in the 4th quarter worth approximately $913,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In other news, insider Paul John Smith sold 125 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $727.38, for a total value of $90,922.50. Following the sale, the insider now directly owns 3,112 shares in the company, valued at $2,263,606.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 917 shares of company stock worth $690,880 in the last ninety days. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW traded down $11.82 during trading on Thursday, hitting $759.01. 575,202 shares of the company were exchanged, compared to its average volume of 1,194,047. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. ServiceNow, Inc. has a 1 year low of $494.13 and a 1 year high of $815.32. The firm’s fifty day moving average price is $747.63 and its 200 day moving average price is $730.35. The company has a market cap of $155.60 billion, a price-to-earnings ratio of 82.22, a PEG ratio of 4.87 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.41. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. On average, sell-side analysts expect that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NOW shares. Piper Sandler boosted their price objective on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. The Goldman Sachs Group raised their price objective on shares of ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, January 25th. BMO Capital Markets dropped their target price on ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Robert W. Baird lifted their price target on ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Finally, UBS Group dropped their price objective on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $808.73.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.